New Delhi, May 5 -- Exporters have asked the Reserve Bank of India (RBI) to give adequate publicity to trade settlement in rupee and the currencies of key trading partners beyond the US dollar.

During a meeting last week in Mumbai, Federation of Indian Export Organisations (FIEO) President S C Ralhan told RBI Governor Sanjay Malhotra that better awareness about which banks facilitate local currency trade would lead to improved utilisation of this service.

Ralhan emphasised that conducting trade with certain countries in rupees instead of dollars preserves foreign exchange and simplifies trade processes.

This follows the December 2023 revision of the Foreign Exchange Management Regulations, which enabled cross-border transactions in all...